Brits overspend by £237 on holiday

SIX in 10 British holidaymakers are returning to a financial headache today after blowing their budgets while away.

Some 17 per cent say overspending is part of the holiday experience []

The average overspend is £237 a person, with 34 per cent of people admitting that they forgot about their finances altogether while on their trip.

Some 17 per cent say overspending is part of the holiday experience.

More than a fifth of travellers will have been forced to use credit cards after running out of cash.

Even those opting for supposedly cheaper staycations within the UK will have spent too much this summer, with 67 per cent of people who went on a camping trip still going over budget.

Those taking city breaks were the worst offenders, with 69 per cent spending more than they had planned, the research by Credit Confidential found.

It will take 36 per cent of people two months to repay their debts once they arrive back home.

Some 17 per cent say overspending is part of the holiday experience

But two million people will need four months to clear what they owe. Five per cent said they will have to cut back on Christmas presents as a result.

More than 11 per cent will need to cut down on essentials including utility bills and one in 10 will have to take on overtime at work to make ends meet. Credit Confidential vice president Paul Lewis said: “The hangover from holiday overspend looks set to stay with us in the run-up to Christmas, with millions of us having to make changes to our budgeting plans in order to pay off these unexpected debts.

“Summer holidays are a great opportunity to loosen up and have some fun, but overspending can cause a holiday hangover that no-one wants to endure.

“It’s important to try to stick to your budget and, if you do overspend, to try to get back into the black as soon as possible.”

Another seasonal headache for parents – apart from money – is the length of their children’s school summer break. Many believe it is simply too long, a study by parenting website Parentdish.co.uk found.

Some three-quarters of 400 parents with children aged between five and 16 could not wait for schools to re-open.

Website editor Tamsin Kelly who was “shocked” at the figure said: “The holidays can be tough for parents, especially in these harsh economic times, when couples have to take turns taking holidays and time off work to look after children.”